Presentation (6)market research.pptx final ppt

ppt final ppt

1. PRESENTATION ON MARKET RESEARCH PROCESS SUBMITTED BY : AMAN BHARDWAJ ROLLNO. MBA 22 005 SUBMITTED TO : DR.VIKRANT JASWAL

2. MARKET RESEARCH : Marketing research is the systematic gathering recording and analysing of data about problems relating to the marketing of goods and services. (According to American marketing) . Market research involves collecting ,organising , analysing and communicating information that can be used in order to make an informed decision making.

3. Why market research ? : To understand the customers pain points ? Understand the customers desires Product Design Sales Pitch Improve Existing Products

4. Marketing research process : 1. Identify the problem 2. Develop the research plan 3.Conduct research 4. Analyze and report findings 5. Take action Problem to solve Project objectives Research questions Information needed Research and analysis methods Secondary data review Primary data collection Suitable methods and techniques Data formatting and analysis Interpretation of results Report and recommendations Thought and planning Evaluations of options

5. How to do market research: Know about competitors Scan what your competitors are doing wrong Understand your customers by asking direct questions. Ask customers what is the value benefits he is looking for? Ask customers how difficult it is to solve the problem?

6. NEED OF MARKETING RESEARCH: To understand the demand of people. To know about changes in technology. Changes in consumer taste. Distribution channels. Changes in product ranges of competitors. To undertake marketing effectively. Changes in economic conditions. To understand the demand of people. To know about changes in technology. Changes in consumer taste. Distribution channels. Changes in product ranges of competitors. To undertake marketing effectively. Changes in economic conditions.

7. Conclusion: Marketing research is a process that you do to better understand the demand of the product. You know about your competitors, what product they sell and what are their prices. After marketing research you have a better idea of what your target audience is interested in ,where they shop , how they consume goods and services, what their their preferences are.